The euro gained against the pound yesterday after the former weakened on a change in the stock markets. European GDP figures yesterday came in low, showing a yearly contraction of 3.6%, but this seems to have largely been priced in by the markets, as it came in slightly better than forecast.
France has announced a €15 billion aid scheme for its aerospace industry, including Airbus, which is based in Toulouse.
Meanwhile, there are talks of the Brexit trade negotiations ‘changing format’, with Penny Mordaunt arguing for a faster timetable to the UK Parliament. It will be interesting to see if there are any changes in the processes, with talks of an autumn summit also floating.
Today is quiet on data releases, but we will see two speeches from key ECB figures.
